Qualcomm and Apple have reached a settlement in their longstanding legal dispute, putting an end to a multi-year battle that saw the two tech giants sue each other in multiple countries for various intellectual property violations.

Under the agreement, Apple will pay Qualcomm an undisclosed amount for licensing its wireless patents, and the two companies have also signed a six-year deal for Qualcomm to supply Apple with modem chips for its iPhones. This marks a significant win for Qualcomm as it had struggled in recent years due to declining sales and the loss of lucrative contracts from Apple and other tech companies.

The agreement is expected to have a major impact on the smartphone industry, as Qualcomm`s technology is widely regarded as the best in the business, and its chips are used in the majority of smartphones worldwide. The agreement with Apple will likely lead to an increase in sales and a boost to Qualcomm`s market share, while also providing Apple with a reliable source of modem chips for its iPhones.

The settlement has also put an end to a legal battle that had been ongoing since 2017, when Apple accused Qualcomm of charging exorbitant fees for its wireless patents. Qualcomm countered by accusing Apple of infringing on its patents and selling iPhones that used competing modem chips from Intel.

The legal dispute had resulted in multiple lawsuits filed in the US, Europe, and China, as well as a ban on the sale of certain iPhone models in Germany. The settlement comes just as the two companies were set to face off in a high-profile trial in San Diego, which had the potential to result in billions of dollars in damages.

While the terms of the settlement have not been disclosed, it is likely that Apple will be paying a substantial amount to Qualcomm for its wireless patents. The six-year chip supply agreement also ensures that Qualcomm will have a steady stream of revenue from Apple, which is expected to result in a significant boost to its earnings.

Overall, the Qualcomm-Apple settlement marks a major turning point in the smartphone industry and is a significant win for both companies. With the legal dispute now behind them, Qualcomm and Apple can focus on building better products and delivering value to their customers.